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Side-by-side financial comparison of Alibaba Group Holding Ltd (BABA) and Dell Technologies (DELL). Click either name above to swap in a different company.
Alibaba Group Holding Ltd is the larger business by last-quarter revenue ($38.8B vs $27.0B, roughly 1.4× Dell Technologies). Alibaba Group Holding Ltd runs the higher net margin — 5.8% vs 5.7%, a 0.0% gap on every dollar of revenue.
Alibaba Group Holding Limited, branded as Alibaba, is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology. Founded on 28 June 1999 in Hangzhou, Zhejiang, the company provides consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via Chinese and global marketplaces, as well as local consumer, digital media and entertainment, logistics, and cloud computing services. It owns and operates a diverse...
Dell Technologies Inc. is an American multinational technology company that has been headquartered in Round Rock, Texas since 1994. It was formed as a result of the September 2016 merger of Dell and EMC Corporation.
BABA vs DELL — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.8B | $27.0B |
| Net Profit | $2.2B | $1.5B |
| Gross Margin | 40.2% | 20.7% |
| Operating Margin | 6.6% | 7.8% |
| Net Margin | 5.8% | 5.7% |
| Revenue YoY | — | 10.8% |
| Net Profit YoY | — | 36.7% |
| EPS (diluted) | $6.64 | $2.28 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $38.8B | $27.0B | ||
| Q3 25 | $34.2B | — | ||
| Q2 25 | $32.6B | $23.4B | ||
| Q4 24 | $38.7B | $24.4B | ||
| Q3 24 | — | $25.0B | ||
| Q2 24 | — | $22.2B | ||
| Q1 24 | — | $22.3B | ||
| Q4 23 | — | $22.3B |
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.7B | $965.0M | ||
| Q4 24 | $6.8B | $1.1B | ||
| Q3 24 | — | $846.0M | ||
| Q2 24 | — | $960.0M | ||
| Q1 24 | — | $1.2B | ||
| Q4 23 | — | $1.0B |
| Q4 25 | 40.2% | 20.7% | ||
| Q3 25 | 39.2% | — | ||
| Q2 25 | 38.4% | 21.1% | ||
| Q4 24 | 42.0% | 21.8% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 21.6% | ||
| Q1 24 | — | 23.8% | ||
| Q4 23 | — | 23.1% |
| Q4 25 | 6.6% | 7.8% | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 12.0% | 5.0% | ||
| Q4 24 | 14.7% | 6.8% | ||
| Q3 24 | — | 5.4% | ||
| Q2 24 | — | 4.1% | ||
| Q1 24 | — | 6.7% | ||
| Q4 23 | — | 6.7% |
| Q4 25 | 5.8% | 5.7% | ||
| Q3 25 | 8.5% | — | ||
| Q2 25 | 5.3% | 4.1% | ||
| Q4 24 | 17.5% | 4.6% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | — | 4.3% | ||
| Q1 24 | — | 5.2% | ||
| Q4 23 | — | 4.5% |
| Q4 25 | $6.64 | $2.28 | ||
| Q3 25 | $8.72 | — | ||
| Q2 25 | $5.20 | $1.37 | ||
| Q4 24 | $20.40 | $1.58 | ||
| Q3 24 | — | $1.17 | ||
| Q2 24 | — | $1.32 | ||
| Q1 24 | — | $1.82 | ||
| Q4 23 | — | $1.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.3B | $9.6B |
| Total DebtLower is stronger | — | $31.2B |
| Stockholders' EquityBook value | $148.7B | $-2.6B |
| Total Assets | $268.6B | $87.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3B | $9.6B | ||
| Q3 25 | $19.0B | — | ||
| Q2 25 | $20.0B | $7.7B | ||
| Q4 24 | $22.3B | $5.2B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $5.8B | ||
| Q1 24 | — | $7.4B | ||
| Q4 23 | — | $8.3B |
| Q4 25 | — | $31.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $28.8B | ||
| Q4 24 | — | $25.0B | ||
| Q3 24 | — | $24.5B | ||
| Q2 24 | — | $25.5B | ||
| Q1 24 | — | $26.0B | ||
| Q4 23 | — | $26.6B |
| Q4 25 | $148.7B | $-2.6B | ||
| Q3 25 | $145.0B | — | ||
| Q2 25 | $139.2B | $-3.0B | ||
| Q4 24 | $137.2B | $-2.3B | ||
| Q3 24 | — | $-2.9B | ||
| Q2 24 | — | $-2.8B | ||
| Q1 24 | — | $-2.4B | ||
| Q4 23 | — | $-2.7B |
| Q4 25 | $268.6B | $87.5B | ||
| Q3 25 | $264.6B | — | ||
| Q2 25 | $248.6B | $86.9B | ||
| Q4 24 | $254.1B | $82.0B | ||
| Q3 24 | — | $82.7B | ||
| Q2 24 | — | $80.2B | ||
| Q1 24 | — | $82.1B | ||
| Q4 23 | — | $83.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.2B | $1.2B |
| Free Cash FlowOCF − Capex | — | $503.0M |
| FCF MarginFCF / Revenue | — | 1.9% |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | 2.31× | 0.76× |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.2B | $1.2B | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $3.8B | $2.8B | ||
| Q4 24 | $9.7B | $1.6B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.5B | ||
| Q4 23 | — | $2.2B |
| Q4 25 | — | $503.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $2.2B | ||
| Q4 24 | — | $914.0M | ||
| Q3 24 | — | $658.0M | ||
| Q2 24 | — | $447.0M | ||
| Q1 24 | — | $806.0M | ||
| Q4 23 | — | $1.4B |
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 9.5% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 3.6% | ||
| Q4 23 | — | 6.5% |
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.4% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | 3.3% | ||
| Q4 23 | — | 3.2% |
| Q4 25 | 2.31× | 0.76× | ||
| Q3 25 | 0.49× | — | ||
| Q2 25 | 2.19× | 2.90× | ||
| Q4 24 | 1.43× | 1.37× | ||
| Q3 24 | — | 1.58× | ||
| Q2 24 | — | 1.09× | ||
| Q1 24 | — | 1.32× | ||
| Q4 23 | — | 2.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BABA
| Alibaba China E-commerce Group | $22.8B | 59% |
| All others | $9.6B | 25% |
| Cloud Intelligence Group | $6.2B | 16% |
DELL
| Products | $21.3B | 79% |
| Storage | $4.0B | 15% |
| Consumer | $1.9B | 7% |
